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Ganesh3

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Closing credit card accounts
How does closing multiple $0 balance accounts affect my credit score?

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Having nothing owed on credit cards is good because all the credit limit they have granted you is available for your use.  Closing the credit card reduces your total available credit by whatever the credit limit is on your card.  For instance, if you have three cards and each had a $1000 credit limit, so you have $3000 total available credit.  Close one of those cards and you now only have $2000 in available credit.

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